CALCASIEU 


Proposed  Contract  and  Specifications  for  the  Sinking 
of  Shaft , &c.rfor  the  Calcasieu  Sulphur  and  Mining 
Company  of  Louisiana , at  their  Mines  in  the  Parish 
of  Calcasieu , in  this  State  ; laid  before,  and  now 
tinder  consideration , by  the  Board  of  Directors  of 
said  Company , jfor  acceptance , or  otherwise : 

Know  all  Mex  by  these  Pretexts,  That  Mr. 
Constant  Louis  de  Ham,  of  Newport,  Kentucky,  of 
the  first  part,  does  hereby  enter  into  contract  and 
agreement  with  the  Calcasieu  Sulphur  and  Mining 
Company,  a duly  organized  corporation  under  the 
general  laws  of  the  State  of  Louisiana,  and  domi- 
ciled in  the  city  of  New  Orleans,  in  said  State,  rep- 
resented by  a special  committee  composed  of  Michel 
Musson  and  Charles  Gaschet  de  l’lsle,  of  New 
Orleans,  on  behalf  of  the  Board  of  Directors  and 
Company,  of  the  second  part,  for  the  following 
purpose,  and  in  the  manner  herein  below  set  forth 
and  designated. 

Article  1. 

The  said  De  Ham  agrees  to  sink  a wooden  shaft 
of  not  less  in  depth  than  one  hundred  and  twenty 


751199 


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(120)  feet,  not  less  in  inside  diameter  than  eighteen 
feet  eight  inches  in  the  clear,  and  disposed  in  a 
rectangular  form,  with  an  inscribed  ring  or  circle, 
giving  a total  thickness  of  two  feet  of  timber,  as 
fully  described  in  the  plan  and  specifications  to  be 
by  him  furnished,  and  in  accordance  with  the  spe- 
cifications'’of  the  Company  hereto  annexed  and 
made  part  hereof,  lettered  A. 

Article  II. 

The  said  De  Ham  agrees  to  sink  the  iron  ex- 
tracting shaft  furnished  to  him  by  the  Company, 
after  the  system  of  Kind  & Chaudron,  and  in 
accordance  with  the  specifications  of  the  Company, 
lettered  A,  as  above. 

Article  III. 

The  said  De  Ham  agrees  to  execute,  complete 
and  deliver,  in  a perfect  workmanlike  and  artistic 
manner,  and  in  compliance  with  the  plans  and  spe- 
cifications above  referred  to,  the  said  preparatory 
and  extracting  shaft,  and  the  derricks  therefor, 
within  fifteen  months  time,  beginning  fifteen  days 
after  the  date  of  ratification  of  this  contract  by  the 
Board  of  Directors  of  the  Company.  In  default 
of  said  De  Ham  complying  with  the  conditions  of 
this  article,  he  hereby  obligates  and  binds  himself 
to  pay  to  the  Company  a sum  of  One  Hundred 
Dollars  per  day,  until  the  completion  of  said  shaft. 
Article  IV. 

The  Company  agrees  to  pay  to  said  De  Ham  a 
bonus  of  Eive  Thousand  Dollars  ($5000),  condi- 
tioned that  he  completes  the  shaft  within  ten 
months  from  the  date  of  his  commencing  the  work, 


as  stated  in  Article  III.  Due  allowance  of  time 
will  be  made  by  the  Company  for  such  delay  of  the 
work  as  may  occur  in  furnishing  by  the  Company 
the  double  tubing  which  might  be  required  in 
passing  the  calcareous  stratum. 

Article  V. 

The  Company  agrees  to  pay  the  said  De  Ham 
for  said  work,  the  sum  of  One  Hundred  Thousand 
Dollars  ($100,000),  in  the  following  manner : 

1st.  When  each  and  every  sixty  feet  of  the  one 
hundred  and  twenty  feet  of  the  wooden  revetment 
shall  have  been  completed  in  a satisfactory  manner 
and  received  by  the  Company,  the  sum  of  Six  Thou- 
sand Dollars  ($6000)  shall  be  paid  to  said  De  Ham 

2d.  At  the  end  of  each  and  every  month,  the 
Company  will  pay  to  said  De  Ham  the  sum  of 
Eighty  Dollars  for  each  and  every  running  foot  in 
depth  in  passing  through  the  stratum  of  quick- 
sand, to  be  measured  by  the  length  of  the  exterior 
tubing  inserted,  beginning  from  the  foundation  of 
the  wooden  shaft. 

3d.  Tor  the  excavation  of  the  balance  of  the 
shaft  through  the  calcareous  stratum  to  the  sulphur 
bed,  the  Company  agrees  to  pay  to  said  De  Ham 
the  sum  of  One  Hundred  Dollars  for  each  and 
every  running  foot,  said  payments  to  be  made 
monthly. 

4th.  After  the  successful  lowering  of  the  inte- 
rior extracting  iron  shaft,  with  its  attachment  of 
the  moss  box,  the  Company  agrees  to  pay  said  De 
Ham  the  sum  of  Three  Thousand  Dollars  ($3000). 

5th.  When  the  necessary  concrete  will  have 


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been  inserted  around  the  shaft,  and  when  the  water 
will  have  been  pumped  out  of  the  shaft,  the  Com- 
pany agrees  to  pay  to  said  J>e  Ham  the  sum  of 
Eour  Thousand  Dollars  ($4000). 

6th.  When  the  false  revetment  below  the  moss 
box,  and  the  twenty  additional  feet  of  excavation 
below  said  false  revetment,  shall  have  been  com- 
pleted, the  Company  will  pay  to  said  De  Ham  the 
sum  of  Four  Thousand  Six  Hundred  ( and  Eighty 
Dollars  ($4680). 

7th.  The  balance  of  the  contract  price  of  One 
Hundred  Thousand  Dollars  will  be  paid  to  said  De 
Ham  in  the  following  manner  : 

1st.  Twenty-five  Thousand  Dollars  ($25,000)  in 
Eive  Hundred  Shares  of  the  Capital  Stock  of  the 
Company,  at  their  full  paid  price  of  Fifty  Dollars 
($50)  per  share.  The  said  Five  Hundred  Shares  to 
be  deposited  and  held  in  trust  in  the  bands  of  a 
third  party,  hereafter  to  be  agreed  upon,  for  deliv- 
ery to  said  De  Ham  on  successful  completion  of 
the  work. 

2d.  The  balance  remaining  due  will  be  paid  in 
cash  to  said  De  Ham  on  successful  completion  of 
the  work. 

3d.  The  above  two  last  payments,  constituting 
the  second  half  of  the  contract  price,  is  to  be  con- 
sidered the  fifty  per  cent,  of  back  per  centage 
retained  by  the  Company,  as  a guarantee  for  the 
faithful  execution  of  the  work. 

Article  YI. 

The  Company  reserves  the  right  of  appointing  a 
Supervising  Engineer  or  Agent  at  the  mines,  upon 


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whose  certificates  of  approval  and  measurement  of 
the  work  as  it  progresses,  the  above  partial  and 
final  payments  of  money  and  delivery  of  stock  to 
Mr,  deHam  will  be  made. 

Article  YII. 

The  said  DeHam  obligates  himself  to  furnish,  on 
or  before  the  first  of  January  next,  1874,  good  and 
solvent  security  to  the  Company  in  the  sum  of 
Fifteen  Thousand  Dollars  ($15,000),  that  he  will 
faithfully  and  diligently  execute  the  work  according 
to  contract,  plan  and  specifications,  and  complete 
and  deliver  the  same  within  the  time  therein  speci- 
fied. 

Article  YIII. 

In  case  of  failure  of  the  shaft,  the  said  DeHam 
obligates  and  binds  himself  to  sink  another  of  the 
same  kind  and  dimensions,  after  the  system  of 
Kind  & Chaudron,  without  additional  compensa- 
tion, and  the  partial  payments  made  to  him  shall 
be  imputed  to  the  second  shaft,  thus  not  exceeding 
the  contract  price  of  One  Hundred  Thousand  Dol- 
lars : and  the  said  DeHam  further  obligates  himself 
to  remove  at  his  own  expense  the  derricks  and 
other  apparatus  and  tools  from  the  first  to  the  second 
shaft.  The  Company,  on  their  part,  agree  to  bear 
the  expense  of  removing  the  extracting  engine,  if 
necessary,  and  the  cost  of  replacing  the  iron  tubing 
lost  in  the  first  shaft,  and  needed  for  the  second 
shaft. 

Article  IX. 

It  is  distinctly  understood  and  agreed  between 
the  contracting  parties  hereto,  that  the  price  of  One 


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Hundred  Thousand  Hollars,  payable  as  above  stipu- 
lated, is  to  embrace  all  the  charges  and  demands  for 
the  execution  of  the  work,  and  no  extra  compensa- 
tion for  materials,  labor  or  supplies,  shall  be 
made  by  DeHam  on  the  Company  for  doing  said 
work. 

Article  X. 

In  case  of  the  death  of  said  DeHam,  it  is  under- 
stood and  agreed  between  the  contracting  parties, 
that  this  event  happening  when  the  preparatory 
shaft  shall  have  been  completed  to  the  sulphur  bed, 
his  heirs,  executors,  administrators  or  assigns  will 
have  the  privilege  of  finishing  the  work,  they  as- 
suming all  the  responsibilities  and  obligations  of  said 
deHam  under  this  contract,  and  deriving  all  of  the 
benefits  of  this  contract,  provided  that  a delay  of 
not  exceeding  twenty  (20)  days  be  and  is  hereby 
allowed  to  said  heirs  or  legal  representatives  or 
assigns,  for  the  resumption  and  continuation  of  the 
work  to  completion,  on  the  terms  and  conditions  of 
this  contract : in  default  of  which  the  Company 
will  have  the  right  of  completing  the  work  and 
taking  possession  without  the  intervention  of  a 
court  of  lawT,  at  the  risk  and  expense  of  the  heirs 
and  legal  representatives  or  assigns  of  the  seccession 
of  said  DeHam. 

Be  it  furthermore  understood  and  agreed,  that  if 
the  death  of  said  DeHam  should  happen  before  the 
sulphur  bed  is  reached,  as  stipulated  in  the  first 
clause  of  this  article,  then  and  in  such  an  event  this 
contract  shall  cease  and  be  annulled  between  the 
contracting  parties,  and  the  following  settlements 


will  be  made  by  the  Company  with  bis  heirs,  legal 
representatives  or  assigns,  (less  the  liens  and  privi- 
leges which  may  be  due  by  said  Deli  am  to  his 
laborers  and  material  men  for  work  and  materials 
furnished  to  him  in  the  execution  of  the  work,  and 
also  less  the  partial  payments  which  he  may  have 
received  from  the  Company  on  account  of  the 
work),  to  wit : 

1st.  If  his  death  happens  when  working  through 
the  wooden  shaft,  the  Company  will  pay  his  heirs, 
legal  representatives  or  assigns  at  the  rate  of  One 
Hundred  and  Ten  Dollars  ($110)  per  running  foot 
in  depth  executed  and  accepted. 

2d.  If  his  death  happens  when  passing  through 
the  quick-sand,  the  Company  will  pay  to  his  heirs, 
legal  representatives  or  assigns  at  the  rate  of  One 
Hundred  and  Twenty  Dollars  ($120)  per  running 
foot  in  depth,  executed  and  accepted. 

3d.  If  his  death  happens  when  boring  through 
ealareous  stratum,  the  Company  will  pay  his  heirs, 
legal  representatives  or  assigns  at  the  rate  of  One 
Hundred  and  Forty  Dollars  ($140)  per  running 
foot  in  depth,  executed  and  accepted. 

Article  XI. 

This  obligation  and  agreement,  though  dated  in 
Kentucky,  is  to  be  governed  in  its  construction  by 
the  laws  of  Louisiana,  and  is  subject  to  the  ratifica- 
tion of  the  Board  of  Directors  of  the  Calcasieu 
Sulphur  and  Mining  Company  within  thirty  days 
from  the  date  hereof. 

Article  XII. 

As  an  amendment  to  Article  III  of  this  Con- 


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tract,  it  is  mutually  agreed  and  understood  between 
the  contracting  parties,  that  the  phrase  in  said  arti- 
cle begining  with  the  words  “ within  fifteen  months 
u time  begining  fifteen  days  after  the  date  of  ratifi- 
“ cation  of  the  contract  by  the  Board  of  Directors 
u of  the  Company,”  and  there  ending,  is  altered  to 
read  as  follows : within  fifteen  months  from  the 
first  of  November  next  (1873). 

Thus  done  in  the  city  of  Louisville,  State  of 
Kentucky,  on  the  Nineth  Day  of  September,  A.D. 
Eighteen  Hundred  and  Seventy-three,  in  presence 
of  the  subscribing  witnesses  and  in  duplicate. 

[Signed]  ‘ C.  L.  DE  HAM, 

ML.  MUSSON. 

OH.  G.  DE  L’ISLE. 

Attest  : Gus.  A.  Breaux. 

Alex.  Boxxeval. 


SPECIFICATION  S 

For  the  Smiting  of  a Shaft  at  full  level  ( according  to 
the  system  of  Kind  & Chaudron ) in  the  Parish  of 
Calcasieu , State  of  Louisiana , for  the  Calcasieu 
Sulphur  and  Mining  Company  of  Louisiana , and 
which  are  made  part  of  the  contract  dated  September 
9 tli,  1873,  between  said  Company  and  Constant  Louis 
de  Ham , of  Newport , ICentucky. 

Article  I. 

The  shaft  will  be  located  on  a spot  which  will  be 
ultimately  selected  by  said  De  Ham  and  the  Engi- 
neer or  agent  of  the  Company.  This  location  shall 


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not  be  situated  more  than  five  hundred  yards  from 
the  two  artesian  borings  made  by  the  Company,  of 
which  the  plans  and  details  have  been  turned  over 
to  the  contractor. 

Article  II. 

The  sinking  of  the  shaft  is  divided  into  two  dis- 
tinct operations — the  preparatory  shaft,  and  the 
extracting  shaft  itself. 

SINKING  OF  THE  PREPARATORY  SHAFT. 

1st.  In  sinking  the  preparatory  shaft,  the  Com- 
pany leave  the  contractor  at  liberty  to  use  whatever 
means  he  may  choose,  upon  the  condition  that  he 
will  make  use  of  the  iron  revetments  already  on 
the  spot. 

2d.  The  two  artesian  borings,  executed  fifty 
yards  from  each  other,  have  given,  the  first,  one 
hundred  and  sixty  feet,  the  second,  one  hundred 
and  sixty-five  feet  of  clay,  with  intervening  strata 
of  running  sand.  Next,  the  first,  one  hundred  and 
seventy-three  feet,  the  second,  one  hundred  and 
seventy-nine  feet  of  quick-sand.  Thirdly,  the  first, 
one  hundred  and  ten  feet,  the  second,  eighty-four 
feet  of  calcareous  stratum,  intermixed  with  clay 
strata. 

3d.  The  upper  part  of  said  preparatory  shaft  to 
he  of  wood,  not  less  in  depth  than  one  hundred  and 
twenty  feet,  not  less  in  inside  diameter  than  eigh- 
teen feet  eight  inches  in  the  clear,  and  disposed  in 
a rectangular  form,  with  an  inscribed  ring  or  circle, 
giving  a total  thickness  of  two  feet  of  timber,  as 
fully  described  in  the  plans  and  specifications  to  he 
furnished  by  C.  L.  de  Ham. 


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4th.  It  appears  from  the  boring  that  the  calca- 
reous section  contains  two  crumbling  places,  one 
from  four  to  five  feet  in  height,  the  other  from 
seven  to  forty-live  feet,  as  shown  by  comparing  the 
two  borings.  If  for  this  section  a new  and  single 
iron  revetment  is  needed,  it  would  require  to  be 
from  forty-two  to  seventy -two  feet  in  length. 
Should  such  revetment  be  found  necessary,  0.  L. 
de  Ham  agrees  to  give  notice  of  it  to  the  Company, 
and  wait  until  said  revetment  can  be  procured  and 
delivered  to  him,  without  giving  him  cause  for 
claims  or  damages  from  the  Company  for  said 
delay. 

5th.  The  preparatory  shaft  must  be  constructed 
in  such  a manner  as  to  prevent  the  crumbling  of 
its  walls,  and  to  allow  the  introduction  of  the  ex- 
tracting tube,  leaving  an  annular  space  of  three  and 
one-fourth  inches  for  the  concreting,  in  a word, 
leaving  an  open  vertical  space,  cylindrical  in  shape, 
of  twelve  feet  seven  inches  and  live  lines  diameter. 
Its  depth  will  be  determined  by  the  position  which 
the  moss  box  will  occupy,  as  will  be  stated  here- 
after. 

6tli.  Fourteen  feet  above  the  spot  on  wdiieh  the 
moss  box  shall  finally  rest,  the  excavation  will  be 
progressively  contracted  so  as  to  have  on  the  eight 
or  nine  last  feet  exactly  the  diameter  of  the  moss 
box,  which  consequently,  will  be  tightly  fitted  into 
the  place  prepared  for  its  reception. 

7th.  In  contracting  for  this  work,  the  Company 
will  deliver  to  the  contractor  the  following  materi- 
als, viz : 


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1st.  An  extracting  steam  engine  complete  and 
already  put  up,  and  also  two  engines  smaller  in 
size  and  not  put  up. 

2nd.  A steam  cylinder  with  m crwsiii-Hg-  for  the 
trepans  work. 

3d.  A large  and  smaller  trepan  complete. 

4th.  Two  sand  pumps. 

5th.  The  necessary  rods  for  the  work  of  the  tre- 
pans and  sand  pumps. 

6th.  Two  adjusting  screws,  chains  for  the  beam 
to  work  the  trepans. 

7th.  Aset  tools,  such  as  are  gen eraly  used  in 
rescuing  a lost  or  broken  tool  in  the  shaft. 

8th.  The  necessary  iron  to  construct  the  elastic 
piece  and  the  working  beam,  connecting  the  trepan 
w ith  its  working  cylinder. 

9th.  Also  all  the  buildings,  improvements,  saw 
mill,  shops  and  tools,  the  whole  as  described  in  an 
inventory,  to  be  signed  by  the  contracting  parties 
at  the  time  of  the  delivery  of  same,  also  all  the 
timber  on  foot  needed  for  the  wTooden  shaft,  der- 
ricks, cord  wTood  for  engine  and  fuel. 

It  is  agreed  and  understood  that  the  said  ma- 
chinery, tools,  buildings  and  improvements  shall 
be  kept  in  repairs  by  the  contractor  at  his  own  cost, 
and  shall  be  returned  by  him  after  the  completion 
of  the  shaft  in  good  order,  wear  and  tear  excepted. 

THE  EXTEACTING  TUBE. 

1st.  The  final  lining  of  the  shaft  or  extracting 
tube  w ill  be  carefully  put  together  as  prescribed  by 
Mr.  Chadron  in  his  works,  of  which  a Copy  has 
been  furnished  to  said  0*  L.  deHarn. 


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2nd.  Lead  joints  will  be  inserted  between  the 
rings  and  carefully  rammed  into  the  interior. 

3d.  Two  coats  of  minium  paint  will  be  put 
between  the  iron  and  lead,  one  on  the  iron  flange 
before  setting  the  lead  packing,  another  one  on  the 
lead  packing  before  resting  on  it  the  next  ring. 

The  Engineer  or  Agent  of  the  Company  shall 
take  good  care  that  the  lead  packing  shall  not  be 
disturbed  from  its  original  position  while  setting 
the  various  pieces  of  the  iron  tubing.  In  case  the 
minium  should  be  found  unsuitable,  the  contractor 
agrees  to  adopt  any  other  paint  proposed  by  the 
Compary. 

4th.  The  outside  surface  of  the  iron  tubing  will 
have  to  be  protected  by  a strong  coat  of  paint  con- 
taining a certain  quantity  of  coal  tar. 

5th.  In  preparing  the  moss  box,  the  moss  should 
be  well  rammed  in  its  proper  place  so  as  to  be  com- 
pressed one-third  of  its  original  volume. 

6th.  The  contractor  shall  set  the  moss  box 
within  the  stratum  designated  as  hard  and  compact 
limestone,  in  the  lithographic  sketch  hereto  an- 
nexed, if  said  stratum  is  found  to  be  impermeable 
to  water;  otherwise,  it  will  be  set  in  a dry  spot  in 
the  sulphur  bed. 

7tli.  The  concrete  will  be  composed  as  follows  : 
hydraulic  lime,  one  part ; sand,  one  part ; gravel, 
one  part ; cement,  one  half  part.  Yet  some  modi- 
fications, provided  it  is  approved  by  the  engineer 
or  agent  of  the  Company,  may  be  introduced  in  the 
above  compound,  each  part  having  been  examined 
and  accepted  by  the  said  engineer  or  agent  before 


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being  used.  Said  hydraulic  cement  shall  be  fur- 
nished by  the  contractor,  either  by  purchase  from 
the  Company  or  by  purchase  elsewhere.  Six  con- 
creting spoons  will  be  placed  together,  around  the 
iron  shaft,  and  the  work  will  go  on  without  inter- 
ruption until  completed. 

8th.  Below  the  moss  box  the  false  revetment 
will  be  set  in  its  proper  place.  1st.  It  is  composed 
of  three  trusses  made  of  ron.  Those  trusses  will  be 
placed  as  prescribed  by  Mr.  Cliaudron,  one  after  the 
other,  and  exactly  centered  with  the  axis  of  the 
shaft.  2d.  Of  four  sections  of  iron  revetment, 
divided  into  segments,  which  will  have  to  be  con- 
creted externally.  In  order  to  join  those  pieces 
with  the  moss  box,  it  will  be  necessary  to  force 
between  them  a belt  of  wedges,  carefully  arranged, 
and  not  exceeding  two  to  two  and  one  half  inches 
in  thickness. 

9th.  The  Company  will  furnish  for  the  execu- 
tion of  this  work,  an  iron  tube  four  hundred  and 
fifty-two  feet  in  height,  with  all  the  necessary  appa- 
ratus for  lowering  it  into  the  preparatory  shaft, 
such  as  false  bottom,  suspending  rods,  descending 
screws,  assembling  and  connecting  bolts,  lead  joints, 
and  also  all  the  pieces  of  the  false  revetment. 

10th.  The  Company  will  also  furnish  for  the 
execution  of  this  work,  the  iron  tubing,  which  is  to 
pass  through  the  quick-sand,  and  being  composed 
of  segments  to  be  bolted  together  with  lead  joints 
between  the  flanges.  Said  tubing  has  two  hundred 
and  thirty-six  feet  in  height. 


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Article  III. 

Tlie  work  being  completed,  it  will  have  to  be 
accepted  by  the  engineer  or  agent  of  the  Company. 

1st.  The  shaft  shall  be  sufficiently  strong  to 
stand  the  mining  operations. 

2d.  It  must  be  exactly  vertical ; no  allowance 
will  be  made  in  that  respect. 

3d.  There  must  be  no  Alteration  of  water  through 
the  various  joints  of  the  tube  above  the  moss  box. 

Any  thing  not  in  accordance  with  the  above  spe- 
cifications will  cause  the  rejection  of  the  works. 

Einally,  the  shaft  will  be  extended  twenty  feet 
below  the  false  revetment. 

Thus  signed  in  duplicate,  this  9tli  day  of  Septem- 
ber, 1873,  for  its  identification  with  the  contract  of 
even  date. 

[Signed]  C.  L.  DE  HAM, 

ML.  MUSB03ST, 

CH.  H.  HE  L’ISLE. 

Attest : Gus.  A.  Breaux, 

Alex.  Boxxeval. 


Copy  op  Kesolutioxs,  etc.,  passed  Sept.  19, 1873. 

The  attention  of  Stockholders  is  respectfully 
called  to  the  following  resolutions,  passed  by  the 
Board  of  Directors  of  the  Company  on  the  19th, 
September,  1873;  and  are  informed  that  Subscrip- 
tion Books  are  now  open  at  the  office  of  the  Com- 
pany to  receive  the  leans  called  for  under  the  same. 


15 


New  Orleans,  September  13,  1873. 

To  the  President  and  Directors  of  the 

Calcasieu  Sulphur  and  Mining  Co.,  of  La. 

Gentlemen — The  Special  Committee  appointed 
by  resolution  of  12th  inst.,  to  prepare  a form  of  Re- 
ceipt for  Stock,  to  be  borrowed,  in  accordance  with 
a resolution  of  25th  July  last,  beg  leave  to  offer  the 
following,  and  add  that  said  report  be  amended  as 
follows : 

1st.  That  articles  5tli  and  6th  of  said  Report  he 
amended  to  read  as  follows : 

“ And  further,  we  recommend  that  such  stock- 
“ holders  as  may  desire  so  to  do,  be  called  upon  to 
“ subscribe  voluntarily  a loan  of  not  more  than  50 
“ per  cent,  and  not  less  than  25  per  cent,  of  the 
“ number  of  shares  of  the  capital  stock  of  this  Com- 
“ pany  held  by  them,  as  a loan  to  this  Company,  to 
“be  used  by  pledge,  sale,  or  otherwise  by  the 
“Directors,  according  to  their  best  judgment^,  in 
“ completing  the  sinking  of  the  shaft,  opening  of 
“ the  galleries,  and  generally  for  the  benefit  of  this 
“ Company,  with  the  understanding  that  a Receipt 
“be  given  to  each  subscriber,  as  per  annexed  form, 
“ for  the  amount  of  stock  loaned  as  above. 

“ The  right  to  vote  upon  the  number  of  shares 
“ named  in  said  receipt  in  all  elections  and  other- 
“ wise  being  expressly  reserved  to  said  lender,  his 
“ proxy  or  recognised  assigns,  until  said  Company 
“ shall  have  disposed  of  and  sold  said  shares  of 
“ stock  thus  loaned  and  said  lender  being  duly  noti- 
“ tied  thereof,  shall  surrender  this  receipt  in  order 


16 


“ to  have  said  sale  recorded  on  the  hack  thereof  by 
“ the  Secretary  of  said  Company 

Said  stock  thus  loaned  to  be  returnable  either  in 
kind  or  the  Company  paying  the  market  value  hgse 
on  the  day  of  return,  within  twelve  months  success- 
ful operation  ot  said  Sulphur  Mine,  or  sooner,  at 
the  option  of  the  Board  of  Directors  of  said  Com- 
pany/'' 

Eorm  of  Receipt. 

]\To Loan  of  Shares 

Xew  Orleans, 1873. 

The  Calcasieu  Sulphur  and  Mining  Com- 
pany oe  Louisiana  hereby  acknowledges  to 

have  received  from * 

Shares  of  the  capital  stock 

of  said  Company  as  a loan,  made  to  the  said  cor- 
poration under  and  by  virtue  of  Resolution  passed 
by  the  Board  of  Directors  thereof,  on  the  19tli  day 
of  September,  1873  (a  copy  of  which  is  on  the  re- 
verse hereof). 

This  Receipt  not  being  negotiable,  but  the  same 
being  tranferable  upon  the  Books  of  said  Company 
by  said  lender  on  its  surrender,  or  to  be  delivered 
to  the  Company  on  the  return  of  the  stock  in  kind 
or  money,  to  himself,  his  legal  representatives  or 
assigns,  in  the  manner  and  at  the  time  set  forth  in 
said  resolution. 


